Mitsubishi UFJ Trust & Banking Corp raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 203.8% during the 2nd quarter, Holdings Channel reports. The firm owned 74,717 shares of the cryptocurrency exchange’s stock after buying an additional 50,121 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coinbase Global were worth $3,514,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Coinbase Global in the second quarter valued at approximately $326,251,000. Nikko Asset Management Americas Inc. grew its holdings in Coinbase Global by 34.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 6,606,262 shares of the cryptocurrency exchange’s stock valued at $312,366,000 after purchasing an additional 1,701,828 shares during the period. Vanguard Group Inc. grew its holdings in Coinbase Global by 4.5% in the first quarter. Vanguard Group Inc. now owns 6,025,188 shares of the cryptocurrency exchange’s stock valued at $1,143,942,000 after purchasing an additional 260,538 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Coinbase Global by 13.2% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 605,251 shares of the cryptocurrency exchange’s stock worth $28,524,000 after acquiring an additional 70,792 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Coinbase Global by 19.7% in the first quarter. State Street Corp now owns 553,861 shares of the cryptocurrency exchange’s stock worth $105,156,000 after acquiring an additional 90,991 shares during the last quarter. 49.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. DA Davidson lowered their price target on Coinbase Global from $100.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup lowered their price target on Coinbase Global from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Piper Sandler lowered their price target on Coinbase Global from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. BTIG Research reduced their price objective on Coinbase Global from $220.00 to $110.00 in a research report on Friday, November 4th. Finally, Compass Point reduced their price objective on Coinbase Global from $95.00 to $75.00 in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.70.
Insider Buying and Selling
Coinbase Global Trading Down 7.2 %
Shares of NASDAQ COIN opened at $45.26 on Friday. Coinbase Global, Inc. has a twelve month low of $40.83 and a twelve month high of $339.41. The stock has a market capitalization of $10.27 billion, a PE ratio of -7.46 and a beta of 2.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $64.77 and a 200-day simple moving average of $67.38.
Coinbase Global Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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